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Property profile & analytics
OFF-MARKET
Estimated value
$4,110,000
Manufacturing properties
3924 Spruce St Tampa, FL 33607-2441
Entity Owned
24-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-0975577
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1962
Construction
STEEL FRAME
Total area
27,283 SF
Lot
2.63 ac (114,351 SF)
Zoning code
CI
APN
A162918ZZZ000005480700
UPID
US18-0975577
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cigar City Brewing Security Service
-
Cigar City Brewing - Spruce Street Brewery & Taproom Production Facility Brewery & Distillery
-
Multi Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.10M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.11M
Owner & transaction history
Speciality Malls Of Tampa INC · 24 yrs held
Speciality Malls Of Tampa INC
since 2002
2 recorded transactions
Zoning & alternative use
CI · Tampa, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$6.1M
+27.0%
Office building
$6.0M
+26.5%
Auto repair, garage
$5.3M
+10.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tampa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tampa submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,525,000
6.5%
$5,100,000
7%
$4,735,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$4,770,000
Current use
RETAIL STORES
$6,060,000
Change: +27% · Conversion: Moderate
OFFICE BUILDING
$6,035,000
Change: +26% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,265,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$4.11M
Range $3.70M – $4.52M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$151 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$87,651
Tax year 2023
Assessed value
$5,025,100
Assessed 2023
Previous assessed
$4,585,500
+9.6% YoY
Effective rate
1.74%
On assessed value
Assessed land
$2,303,869
Assessed improvement
$2,721,231
Land market value
$2,303,869
Improvement market value
$2,721,231
Total market value
$5,025,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1962
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Buildings
4
Stories
1
Units
1
Rooms
9
Total area
27,283 SF
Lot
2.63 ac (114,351 SF)
Zoning code
CI
APN
A162918ZZZ000005480700
UPID
US18-0975577
Jurisdiction
HILLSBOROUGH
Zoning & alternative use
CI · Tampa, FL
Zoning CI · permitted uses
CI · Tampa, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tampa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$4.8M
RETAIL STORES
Est. value
$6.1M
OFFICE BUILDING
Est. value
$6.0M
AUTO REPAIR, GARAGE
Est. value
$5.3M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1962
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
4
Units
1
Rooms
9
Lot
2.63 ac
Current owner
From public records · entity-resolved
Speciality Malls Of Tampa INC
Entity
Free & Clear · 24 yrs held
Mailing address
4005 W SPRUCE ST, TAMPA, FL 33607-2328
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 2, 2002
$1,200,000
Speciality Malls Of Tampa INC
Southern Truck Body Corp
Grant Deed
—
—
—
Southern Truck Body Corp
—
Deed Of Trust
related
$200,000 · Mercantile Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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